BlackRock Investors Nix Bids to Sway Climate, Diversity Policies

BlackRock investors rejected two shareholder proposals Wednesday representing opposite ideologies of the environmental, social and governance debate.

One proposal from a conservative group asked the company to issue a study of how its diversity, equity and inclusion policies could negatively affect employee hiring, promoting and retention. The other requested BlackRock produce a report on how the world’s largest asset manager could use its proxy-voting power to spur other companies to more quickly reduce their carbon footprints.

The dueling proposals, come at a time when BlackRock is under intense scrutiny by ESG backers and opponents. BlackRock has become a target of ...